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Tariffs on wheat exports from Russia will increase from December 28th

From December 28, 2022 to January 10, 2023, the export tax for Wheat from Russia will be 4160,9 rubles per ton, for the export of Barley 3420,4 rubles, for corn 692,6 rubles per ton, according to data from the Ministry of Agriculture.

Export duties for wheat and meslin (a mixture of wheat and rye) are calculated at an indication price of US$312,8 per tonne, for barley at US$280,2 per tonne and for corn at US$222 per tonne.

December export tax for wheat from Russia included is 3333,8 rubles per tonne, for barley export — 2686,9 rubles, for Corn — zero.

“The export duty rates will be applied from the third working day after the date of their placement and will apply until the next export duty rates begin to apply. Thus, the tariffs published on the website of the Ministry of Agriculture on December 23 will apply from December 28, 2022 to January 10, 2023 inclusive. The prices announced on December 30 will apply from January 11 to 17”, RIA Novosti explained in the ministry's press service the procedure of customs duties in the Christmas period.

In Russia, there are flexible export tariffs on wheat, corn and barley, which operate under the Grain Dampening Mechanism. For the calculation, data on the price of export contracts registered on the exchange and the average dollar / ruble rate set by the Bank of Russia five business days before the settlement date are used. The funds received are returned to the subjects of the Russian Federation in the form of subsidies to producers of wheat, rye, corn and feed barley and are distributed according to the volume of production.

Source: Premium (Russian)

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